'We misread the market and we moved too fast.' That oft-repeated mea culpa has driven EV commentary in recent months as all the Tesla-fired predictions made in the early 2020s didn't pan out, prompting expensive rollbacks of EV programmes from the likes of Porsche, Stellantis, Honda, General Motors and Ford.
That was a painful exercise that CEOs won't like to repeat. But like your most contrarian relative, markets today seemingly delight in unpredictability. Messing with the minds of car makers now is the question of whether they have gone too far the other way and under-read EV demand as it grows on the back of the prolonged Iran war.
